The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
Travis Timmerman, an American detained in Syria for seven months, has been freed and flown out of the country by U.S. military forces. His release came after rebels overthrew President Bashar al-Assad’s regime and liberated thousands of prisoners, including Timmerman.
Inflation rose in November at the fastest pace in four months, marking the second straight month of acceleration. The Department of Labor reported Wednesday that the consumer price index (CPI) increased by 2.7% over the past year, matching economists' forecasts. Core inflation, which excludes food and energy prices, climbed 3.3% year-over-year.
All three major U.S. stock indexes closed at record highs on Wednesday, fueled by a strong rally in technology shares and encouraging comments from Federal Reserve Chair Jerome Powell. Salesforce’s positive earnings report and upbeat market sentiment contributed to the surge, while Powell’s remarks on the economy provided an additional boost.
Michigan Governor Gretchen Whitmer faced backlash after a social media video showed her feeding a kneeling liberal podcaster Doritos, while wearing a Harris-Walz campaign hat.
The Arizona Supreme Court ruled that nearly 98,000 voter registrations in the state remain with unconfirmed citizenship status, raising concerns ahead of a pivotal election.
The son of Ryan Wesley Routh, former President Donald Trump's second would-be assassin, said that "every reasonable" person hates the 45th U.S. President.
